Analysis of Section 2-204 of the Uniform Contract Code - Assignment Example

The offer has to be accepted and this acceptance has to be communicated to the other party. The acceptance has to be with respect to a particular consideration. Such consideration has to be in respect to the contract which is formed. The consideration is the purpose behind which every contract is formed. After the acceptance and the communication of the same, the contract starts to exist. Purpose and Function of Uniform Commercial Code: “The Uniform Commercial Code (UCC), a comprehensive code addressing most aspects of commercial law, is generally viewed as one of the most important developments in American law.

” “This body of law, created by a private author, aimed to create a uniform scheme applicable to the sale of goods and commercial transactions. The UCC applies to the sales of goods and commercial transactions. The sales of goods involve the buying and selling of tangible items, such as boxes of a product. Commercial transactions include primarily banking transactions and are considered debt instruments.” Understanding from the above notions with respect to the Uniform Commercial Code, we can ascertain that the Uniform Commercial Code governs and manages all the contracts formed within the different territories of the United States of America.

The Uniform Commercial Code basically creates a uniform scheme and system for all the contracts which are formed in the United States of America. The Uniform Commercial Code, therefore, is a procedural and a substantive law which overlooks the affairs of all the contractual obligations taken forwards in the realm of the contract law in the United States of America. Contract of Sale: In order to understand the contract of sale, here is an example which shall help explain the infer functioning and the working of the contract for sale.

Don, who is a shopkeeper, has an Apple showroom. He is running the Apple showroom in Oklahoma and manages all the Apple products.